Daily Dispatches

China tries settling trade with yuan instead of dollar

Submitted by cpowell on Thu, 2009-01-08 11:05 Section: Daily Dispatches

Yuan-Settlement Test to Start

From Shanghai Daily
Shanghai, China
Wednesday, January 7, 2009

http://www.shanghaidaily.com/sp/article/2009/200901/20090107/article_387...

China's central bank said yesterday that it plans to implement a pilot program that would settle overseas trade with the Chinese currency instead of the US dollar.

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From Australian TV, a devastating parody of central banking

Submitted by cpowell on Thu, 2009-01-08 00:21 Section: Daily Dispatches

12:19a ET Thursday, January 8, 2009

Dear Friend of GATA and Gold:

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China is losing its taste for U.S. debt

Submitted by cpowell on Wed, 2009-01-07 23:33 Section: Daily Dispatches

An hour later you're bankrupt again.

* * *

By Keith Bradsher
The New York Times
Wednesday, January 7, 2008

http://www.nytimes.com/2009/01/08/business/worldbusiness/08yuan.html?_r=...

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Still nobody in Britain perceives purpose of those gold sales

Submitted by cpowell on Wed, 2009-01-07 23:19 Section: Daily Dispatches

British Gold Sales Cost Public L5 Billion

By Christopher Hope
The Telegraph, London
Wednesday, January 7, 2009

http://www.telegraph.co.uk/news/newstopics/politics/labour/4162054/Gordo...

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Barry Ritholtz: Here comes the commodity index rebalancing

Submitted by cpowell on Wed, 2009-01-07 11:11 Section: Daily Dispatches

11:11a ET Wednesday, January 7, 2009

Dear Friend of GATA and Gold:

Market analyst Barry L. Ritholtz, director of equity research for Fusion IQ in New York, expresses skepticism about the "rebalancing" of the Dow Jones commodity index to diminish the gold component and increase the oil component. Ritholtz writes:

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Central banks don't mind any amount of loss in gold

Submitted by cpowell on Tue, 2009-01-06 19:56 Section: Daily Dispatches

7:46p ET Tuesday, January 6, 2009

Dear Friend of GATA and Gold:

It's fun to tweak the British government for the portfolio loss it incurred by selling its gold reserves at the bottom of the market some years ago, as the news story and commentary appended here do. It's more fun because the British government cannot give the candid answer that would provide the supposed justification.